Global Energy Saving Window Film market was valued at US$ 1190.7 Mn in 2022, exhibiting a CAGR of 8.8% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 2337.0 Mn by 2030. Energy saving window films not only helps in conserving energy and maintaining the temperature indoors, but also protects the inside environment from harmful ultra-violet radiation of the sun.
Global Energy Saving Window Film Market- Impact of Coronavirus (Covid-19) Pandemic
The global energy saving window film market is witness a decline growth in 2020, owing to the severe impact of COVID-19 pandemic. Application segments such as construction are expected to grow during the forecast period. However, automotive and marine, among others are expected to witness a declining demand. Furthermore, the demand for energy saving window film is expected to decline due to decline in sales in emerging economies such as India, among others, owing to low disposable income in these countries as compared to regions such as North America and Europe in the near future.
Figure 1. Global Energy Saving Window Film Market, By Application, 2022
Global Energy Saving Window Film Market - Drivers
Growing end-use industries such as construction, among others is expected to drive growth of the global energy saving window film market during the forecast period. For instance, according to the Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach US$ 17.52 trillion by 2030, which is US$ 8 trillion rise from 2015.
The increasing significance of energy use is an important factor driving the global market. Due to the limited supply of resources and significant environmental effects, such as global warming and various climatic changes, there is an increasing demand for energy-efficient buildings. Buildings use a lot of energy, which increases the amount of CO2 in the atmosphere. For instance, according to a study from the University of West London in the U.K., buildings account for at least 43% of all CO2 emissions, and window façade systems are responsible for 60% of the building's energy losses. According to the study, using these films also results in a 35% reduction in annual cooling energy use and a 2% increase in annual heating energy costs. These films are also known as "E-films" so even though they conserve energy.
Energy Saving Window Film Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ 1190.7 Mn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||8.8%||2030 Value Projection:||US$ 2337.0 Mn|
3M, Saint-Gobain, Solar Window Technologies, Inc., American Window Film, Inc., Madico, Inc., PR Solar Window Film Ltd., Dingxin Films Technology Co. Ltd., Nexfil USA, and Eastman Performance Films, LLC.
|Restraints & Challenges:||
Global Energy Saving Window Film Market - Restraints
The energy saving window film with a dark tint may significantly affect the visibility of people inside the house or the car, while a film with a shiny outer coat can give windows a dark or shiny external appearance and thereby, make the glass appear colored due to reflection of some bands of visible light. These factors are expected to restrain growth of the energy saving window film market over the forecast period.
Global Energy Saving Window Film Market - By Segmentation
On the basis of application, the energy saving window film market is segmented into construction, automotive, marine, and others. In 2022, the construction segment accounted for 57.40% of the revenue share. With an increasing focus on sustainability and energy efficiency in building design and construction, energy saving window film has become a popular choice. It helps improve the energy performance of the buildings by reducing heat gain or loss through windows, thus decreasing the reliance on heating, ventilation, and air conditioning systems.
Global Energy Saving Window Film Market - Trends
Rising awareness regarding environment is expected to be a trend, as it focuses on reducing carbon emissions. CO2 emission from buildings is a major factor contributing to the overall energy loss. Window panels are a major component of the building fabric with considerable influence on the energy performance and are accountable for the building’s overall energy loss. Therefore, the demand for energy saving window films is expected to rise during the forecast period.
Figure 2. Global Energy Saving Window Film Market, By Region, 2022
Global Energy Saving Window Film Market - Opportunities
Key players are focusing on launching new products in the energy saving window film market to create growth opportunities at a global level. For instance, in May 2015, 3M launched its Ultra Clear Energy Saving Window Film Kits to its Home Energy Savings solutions product line. This window film is do-it-yourself (DIY), which will help in blocking UVA and UVB rays along with 35% of sun heat.
Global Energy Saving Window Film Market - Regional Insights
Among region, North America held dominant position in the global energy saving window film market in 2022, reporting 49.20% market share in terms of revenue, followed by Asia Pacific and Europe, Latin America, Middle East & Africa. North America comprising the U.S. and Canada, is a significant market for energy saving window film. This region has a high-demand for energy-efficient solutions and a growing focus on sustainable construction practices.
Global Energy Saving Window Film Market - Recent Developments
Global Energy Saving Window Film Market - Key Players
Key players operating in the global energy saving window film market include 3M, Saint-Gobain, Solar Window Technologies, Inc., American Window Film, Inc., Madico, Inc., PR Solar Window Film Ltd., Dingxin Films Technology Co. Ltd., Nexfil USA, and Eastman Performance Films, LLC.
Definition: Energy saving window films are designed and built to prevent heated or cooled air from escaping your home. This ensures your HVAC system does not work harder than it needs to. The benefits are lower electric bills and more consistent temperatures in your home year-round.
Frequently Asked Questions